NiSource Inc. on Jan. 27 raised its quarterly common dividend by 6.1% to 17.5 cents per common share.

The dividend, which equates to an annualized rate of 70 cents per share, will be payable Feb. 17 to shareholders of record Feb. 10.

"An increasing dividend is a key part of our overall value proposition," NiSource President and CEO Joseph Hamrock said in a company release. The company expects to boost its dividend at the start of each year.